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Cruise Shipping Annual Cruise Share Performance Towards the end of 1999, the stock market had shak- en off concerns about the economy becoming too strong, interest rates had backed up and the general economy was sound. The S&P had moved back into positive territory, led by a rally in the technology sec- tor and assisted by oversold sectors such as the retail- ers. Since early November, the cruise shares staged an impressive rally, with an 11.6 percent one-month rise in the LF Cruise Index (pictured), which is consistent with the performance of the two leaders, CCL and PERFORMANCE OF LF CRUISE INDEX vs. S&P 500 RCL. Even more impressive was the truly explosive one-month performance of Star Cruises, which rose 50 percent. Star is now the fourth largest cruise line in the world based on its market capitalization of $5.6 billion. The Lazard Freres Cruise Index enjoyed good performance in the last few years, with a five year cumulative return of 264 percent. — excerpted, in part from Lazard Freres' 1999 "Cruisin' Miami" Fieldtrip. 9S5 9/96 9/97 LF Cruise Index S&P 500 UPWARD MOBILITY Cruise shipping shares have, in general, been upwardly mobile for the past year. The following charts give a general representation of share price activity. For more specifics, see chart next page. amCV American Classic Voyages cd Carnival Carp. M/wv NCI Holding ASA Royal Caribbean in Maritime Communications Maritime Telecommunications Network The Leading Provider of Passenger and Crew Voice, Internet & Data Communications. On 13 Major Cruise Lines and Over 70 Ships. Provider of Voice & the High Speed Data Required for Offshore Drilling Operations. The Leading Provider of C-Band Networks for U.S. Navy Vessels. QMTM MARITIME TELECOMMUNICATIONS NETWORK 305.599.9434 • 800.799.2411 • satellite_info@icgws.com Marinfloc® Oily Water Treatment Systems See us at Seatrade Cruise Shipping March 7-10, 2000 Miami Beach Convention Center Hall D, Booth 1325 Discharges less than 5 PPM Marinfloc s type TD-3-100-2, PU/SU Emulsion Breaking Bilge Water Cleaning System RCCL "Voyager of the Seas" and her sister ships are all fitted out with 2 x Marinfloc® system type: TD-3-100-2 PU. IMO MEPC 60 (33) CE, DNV, USCG Reduce water content of sludge by up to 85 % Marinfloc® Sludge Dewatering unit MARINFLOC^AB PA Industrivagen 10 SE-472 95 Varekil, Sweden S +46-304-104 98. Sales+46-31-86 85 10 a S +46-304-100 51. Sales +46-31 -86 85 18 e-mail: marinlloc®marinfloc.com US Representative American Teratec, Inc. P.O. Box 249 - 209 Industrial Parkway Northvale, New Jersey 07647 S: (201 )-767-8080 8 / (201) 768-2570 e-mail:ati ©teratecusa.com 26 Circle 241 on Reader Service Card Circle 324 on Reader Service Card
